End Results News

Alfa Laval says its 2800 m2 testing space – already equipped for today’s oil and gas fuels – has been readied for testing with biofuels. In coming years,  as the marine industry races to slash greenhouse gas emissions, the center will accumulate knowledge to aid maritime decarbonization.Located in Aalborg, Denmark, the Alfa Laval Test & Training Centre is a core component of Alfa Laval’s own research and development. It is also a site for collaboration with industry partners and research institutes…

The Norwegian ship owner Golden Energy Offshore has decided to install Ulstein Blue Box on two of their vessels.The offshore service vessels for the global oil and gas service industry quoted ship owner Per Ivar Fagervoll as saying: “With Blue Box we will manage to reduce our fuel consumption and environmental footprint further, which is very important to us.”Golden Energy Offshore is actively pursuing environmental friendly solutions, and has a green profile. Together with Ulstein, they are now entering into a Blue Box pilot project on two of their vessels.“With this pilot project and the programs aligned with this agreement we will be enabled to consolidate, process and analyse data and target our focus on energy efficiency.

Within the U.S. inland waterways industry, any mention of the American Society of Civil Engineers (ASCE) will almost certainly be in reference to the “Infrastructure Report Card” that ASCE prepares and issues every four years, describing the condition and performance of America’s infrastructure in 16 categories: aviation, bridges, dams, drinking water, energy, hazardous waste, inland waterways, levees, ports, public parks, rail, roads, schools, solid waste, transit and waste water.

Canada's largest and most diverse port has released its 2013 year-end results showing continued growth, including a repeat of record volumes in the container and bulk sectors. In 2013, Port Metro Vancouver also advanced several ongoing capacity building infrastructure projects, updated and extended environmental initiatives and participated in substantial community engagement activities. The 2013 year-end statistics report shows that Port Metro Vancouver handled 135 million metric tons of cargo, a record for the Port, and an overall increase of nine percent over 2012.

The emergency towing system is a simple and proven means of storing the emergency towline, retrieving the loose barge and continuing the tow. When the pick-up line is pulled, the emergency tow wire runs completely off the reel and engages with the auxiliary town chain. The chain is connected to a center tow pad, allowing the barge to be towed to the next port. JK Fabrication INC. has just made several major upgrades to the emergency storage reel. The end results are a built-in sprocket flange that allows the customer to retrieve the deployed cable easily…

Teekay Tankers Ltd. ·         Declared a cash dividend of $0.22 per share for the quarter ended December 31, 2010. ·         Reported fourth quarter adjusted net income of $2.6 million, or $0.05 per share (excluding specific items which increased GAAP net income by $5.2 million, or $0.10 per share). ·         Over 60 percent of fourth quarter revenue days earned average fixed time-charter rate of $24,390 per day; significantly above average spot TCE of $14,779 per day earned on remaining spot revenue days. ·         Completed acquisition of one Suezmax tanker and one Aframax tanker for a total cost of $107.5 million. ·         In January 2011, commenced a 23-month extension of an existing Suezmax tanker time-charter.

The Directors of Keppel Corporation Limited advise the following unaudited results of the Group for the full year ended 31 December 2010. The FY 2010 Report Card and the Address by Mr Choo Chiau Beng, Chief Executive Officer, are below. The full set of financial documents for the results and the Address by Mr Teo Soon Hoe, Senior Executive Director and Group Finance Director, are attached and also available for download below. 1. Net profit before exceptional items improved 12% to S$1,419 million, compared to FY 2009's S$1,265 million. 2. Earnings Per Share of 88.7 cents, up 12% from FY 2009's 79.4 cents. 3. ROE remained above 20%. 4. Economic Value Added before exceptional items increased from S$1,026 million to S$1,035 million.

Navios Maritime Partners L.P. (NYSE: NMM), an owner and operator of dry cargo vessels, reported its financial results for the fourth quarter and year ended December 31, 2010. Ms. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners, stated: "We are pleased to increase our cash distribution per unit for the fourth quarter. Ms. Frangou continued, "Overall, 2010 was a good year for Navios Partners. We grew the asset base substantially by adding 5 new vessels, all with long-term charters. At the same time, we reduced our leverage ratios. The Board of Directors of Navios Partners declared a cash distribution for the fourth quarter of 2010 of $0.43 per unit.

Seanergy Maritime Holdings Corp. announced its operating results for the fourth quarter and the year ended December 31, 2009. Dale Ploughman, the Company's Chief Executive Officer, stated: "Despite the difficult market conditions we are pleased to report strong results for 2009. These results reflect our strong cash flow, the high fleet utilization and our operational efficiency. "2009 has been a transformational year for Seanergy. We managed to double our controlled fleet from 6 to 11 vessels with the acquisition of BET and we reinforced our capital structure with the conversion of the $28.5 million promissory note, issued in our business combination, into common stock.

Dril-Quip, Inc. (NYSE:DRQ) announced net income of $28.7 million, or $0.72 per diluted share for the three months ended December 31, 2009, versus net income of $25.0 million, or $0.64 per diluted share for the fourth quarter of 2008. Total revenues increased to $141.3 million for the quarter ended December 31, 2009 from $135.5 million for the same period in 2008. The increase in revenues resulted from increases of $15.6 million in subsea equipment revenues and $0.7 million in service revenues, offset by decreases of $8.2 million in revenues related to offshore rig equipment and $2.3 million in surface equipment revenues. Operating income was $36.6 million in the fourth quarter of 2009 compared to $33.4 million in the fourth quarter of 2008.

Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers and a leading international provider of worldwide seaborne transportation services for dry bulk cargoes, announced its operating and financial results for the fourth quarter and year ended December 31, 2009. -- Revenue from operations for the quarter amounted to $186.2 million as compared to $189.2 million in the fourth quarter of 2008. -- Net profit for the quarter was $81.8 million or $1.00 per weighted average diluted share compared to a loss of $332.1 million or $7.56 per weighted average diluted share in the fourth quarter of 2008. -- The fourth…

Star Bulk Carriers Corp. (Nasdaq: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes, announced its unaudited financial and operating results for the fourth quarter and the year ended December 31, 2009. Akis Tsirigakis, President and CEO of Star Bulk commented: "We are pleased to report that the Company completed its 2009 financial year, a challenging year, in a strong financial condition. As we look forward into 2010, our approach will be one of conservative growth by seeking value-enhancing assets, while maintaining the strength of our balance sheet. In this context, we believe that the recently announced acquisition of the capesize vessel…

Mitcham Industries, Inc. (NASDAQ:MIND) announced financial results for its fiscal 2009 fourth quarter and year ended January 31, 2009. The company reported total revenues of $16.2m for the fourth quarter of fiscal 2009 compared to $20.8m in the fourth quarter of fiscal 2008. Net income for the fourth quarter of fiscal 2009 was $421,000, or $0.04 per diluted share, compared to net income of $3.3m, or $0.32 per diluted share, for the fourth quarter of fiscal 2008. Fourth quarter earnings were impacted by a $2.4m charge to the company's provision for doubtful accounts and a gain of $580,000 resulting from an insurance settlement on equipment destroyed during Hurricane Ike. Absent these two items, fourth quarter 2009 net income was approximately $1.6m, or $0.16 per diluted share.

MC Shipping Inc. said net income for the year ended December 31, 2003 was a record $3,091,155 or $0.37 per share, compared to a net income of $2,241,906 or $0.27 per share in 2002. The Company's earnings before interest, taxes, depreciation and amortization (EBITDA) were approximately $20.1 million and the ratio of EBITDA to interest expense was approximately 4.1 for the year ended December 31, 2003. In 2002, EBITDA was approximately $20.0 million and the ratio of EBITDA to interest expense was approximately 3.1. EBITDA is defined by the Company as Net Income before income taxes, interest, depreciation and amortization and provision for impairment loss. Total revenues (excluding interest income) in 2003 were $35,797,522 compared to $41,858,999 in 2002.

Royal Olympic Cruise Lines Inc. reported that significant booking cancellations aboard its cruise vessels for the remainder of the year will adversely affect its final results for 2001. The cancellations follow the tragic attacks on New York and Washington DC on September 11, 2001. CEO of Royal Olympic Cruise Lines, Yiannos Pantazis, stated, "A large number of the passengers travelling with us in September and October are from the United States and unfortunately, since September 11, many have chosen not to travel abroad. The cancelled bookings will have a serious negative impact on the fourth quarter and, consequently, the year-end numbers will show a higher loss than previously expected. $0.85 per share.

Halter Marine Group, Inc. announced the company's net income for the quarter ended March 31, 1999 was $1.5 million on revenue of $238.3 million. This compares to net income of $539,000 on revenue of $189.4 million in the fourth quarter of fiscal 1998. For the fiscal year ended March 31, 1999, the company reported net income of $13.3 million on revenue of $998.1 million. For fiscal 1998, Halter Marine Group reported net income of $22.5 million on revenue of $670.2 million. Gross profit margins for the company's vessels, rigs and engineered products segments were 8.1 percent, 0.6 percent, and 20.3 percent, respectively, for the fourth quarter.

According to the Quarterly Incidents Briefs summary for cases closed in the New York area during the first quarter of calendar year 1999, nearly 60 percent of the incidents involving vessel casualty or malfunction were related to equipment failure - either by normal wear and tear, or through lack of preventive maintenance. Also included in the report are incidents which occurred on vessels at sea, enroute to New York City at the time of the incident. Of the 49 cases, lack of preventative maintenance was the cause of 16 incidents, the highest total of the five causes, which also include mechanical error, human error, shoaling and miscellaneous.

The Georgia Ports Authority (GPA) announced its fiscal year end results with all key business sectors reporting positive growth for the year. The Port of Savannah handled 2,041,789 Twenty Foot Equivalent Unit containers (TEUs) in FY06, an increase of 15.9 percent from the previous year. Total GPA intermodal rail lifts also rose 23.1 percent for the year. Auto and machinery units handled by the GPA totaled 376,446, an increase of 8.2 percent. A record 368,475 units were handled at the Colonel’s Island Terminal alone. The completion of Phase One of Container Berth 8, part of the largest single container facility in the USA; the GPA Board of Directors approved an $82.6m capital improvement program which will include four Super Post-Panamax Cranes…

TOP Tankers Inc announced plans to release its fourth quarter and 2005 year-end results on February 27 at 7:35 AM EST. The company's management will host a conference call to review the results and discuss other corporate news and its outlook that same day at 11:00 AM EST. Participants should dial into the call 10-15 minutes before the scheduled time using the following numbers: 877 407 8035 (from the US and Canada) or +1 201 689 8035 (from outside the US and Canada). A live webcast of the conference call will also be accessible via the Internet.

Stolt Offshore S.A. of Mexico. about breakeven. to retire from his position as CEO effective immediately. Vossier will continue to serve as a member of the Board. The Board of Directors has commenced a search for a new CEO and appointed on an interim basis as CEO Niels G. Stolt-Nielsen, a member of the Board since 1999 and currently also CEO of Stolt Offshore's parent company, Stolt-Nielsen S.A. Operational problems have been experienced mainly on three projects. forecasting higher than expected fabrication and installation costs. The company has also seen cost over-runs on the Burullus Scarab and Saffron project in Egypt. defective and also difficulties with a nominated sub-contractor requiring additional engineering, management and supervision costs. pipeline burial problems.